London Markets

Feilding Star, Volume XIV, Issue 124, 8 April 1893, Page 2

London Markets

(PER PRESS ASSOCIATION.) London, April 0. The United Farmers' alliance, Ltd., have received the following cable from W. Weddel & Co., their L«nd°n agents : — Wool advanced Merino, len per cent ; crossbred, five to ten per cent. The New Zealand Loan and Mercantile Agency Company (Limited) have received the following cablegram dated London, yesterday :— The wool sales opened at an average advance of 10 per cent on last sales' closing rates. Competition by both Home and foreign buyers is active, and the attendance by both good. The total quantity available, iacludcng wool held over from last scries, is 177,000 bales, 120,000 bales of which have been forwarded to the manufacturing districts direct. At the wool sales competition is spirited. The American buyers are quiet and the French eager. Seven experts examined the Cuaco's | butter. They consider lSdeg Fahr. preI ferable to 32deg. The edges of the packets are slightly tinged and they are of opinion that paper is not a sufficient wrapping. The following are quotations for bank shares ; — Bank of Australasia, L7B 10s ; Bank of N/ew South Wales, L 65 ; Eng« lish, Scotland and Australian Bank, L 9 ; Union Bank of Australia, L<J,U.

The Commercial Bank Failure ( — — + (PER PRESS ASSOCIATION.) Melboubnk, April 6. At an enfhusiostic meet of shareholders nnd depositors in the Commercial Bank of Australia, it was unanimously j agreed to reconstruct the institution, arid j the directors were instructed to take the necessary steps to carry out the wish of the meeting. London, April 6. Mr Guiness Mason, of Dublin, is petitioning to have the Commercial Bank of Australia wound up. The amount of his i claim is LSOOD. The petition is set down for bearing on the 24th insfc. The Commercial Bank hoHs L 50.000, the funds of the South Australian Government, remitted to their AgentGeneral, Sir J. C. Bray. The attitude of the Scotch depositors is temperate and the agents of the Bank in Glasgow, ore enquiring from London aa to the state of affairs. March 7. The Times says that after careful enquiry it cannot believe the unfavorable rumours which are in circulation regarding the Australian banks. The Times also understands that none of the Australian banks, with the exception of the Commercial bank, were badly hit by the land boom.